HAMILTON, Bermuda, CMC-The Bermuda government has launched its 2026-28 Fintech Strategy, describing it as a comprehensive roadmap to evolve the island’s financial technology ecosystem firmly.
“ In other words, this strategy sets out clear steps to help Bermuda integrate fintech in society to make digital financial services more prevalent across the Island,” Economy and Labour Minister Jason Hayward said.
He told legislators that the strategy is aligned with the broader Economic Development Strategy (EDS) 2023-2027 and reflects Bermuda’s commitment to innovation, inclusivity, and international cooperation.
“At the heart of this strategy is a robust digital identity framework and a clear focus on insurtech, building on Bermuda’s strength in insurance and reinsurance. Digital identity is the framework and tool that allows people to prove who they are in online environments securely. It supports security, trust, and efficient service delivery across the digital financial landscape.”
Hayward said that there is also a focus on insurtech “as we build directly on what we already do best: insurance and reinsurance, where Bermuda has global credibility, deep expertise, and a strong regulatory reputation.
“The strategy sees fintech growth as grounded in a proven sector rather than starting from scratch,” Hayward said, adding that this strategy therefore supports a wider ambition to modernise how money moves across the economy, across government, business, and financial services.
“It also reflects the Island’s ambition to keep its economy inclusive and competitive. It aims to make payments and financial services faster, safer, and more efficient. This is not a theoretical exercise, and it is not just a plan on paper. We are already seeing digital onboarding become a reality in local banking, for instance. Also, the government is already working with partners to modernise payments. ”
Hayward told legislators that the Fintech Strategy seeks to provide a robust foundation in several priority areas, such as attracting investment, helping Bermuda compete globally,
fostering collaboration, ensuring strong data protection, driving innovation and growth, providing regulatory clarity, consumer protection, and compliance, and closing gaps in services and improving access for more people under the banner of inclusivity.
He said that the resulting strategy is built on three key pillars and corresponding action items to create a dynamic, sustainable, and inclusive fintech ecosystem, and that these pillars are a progressive and agile regulatory environment, innovation, growth, and capacity building, and international collaboration and market access.
“Within each of these three key strategic pillars, the strategy has identified steps that will guide Bermuda towards sustainable economic growth by leveraging its unique strengths. This approach supports real economic growth. It is not about technology for its own sake; it is about technology as a core driver of the economy. ”
Hayward said that each pillar of the Fintech Strategy includes key initiatives with practical actions to improve infrastructure, grow skills, and keep rules clear.
“These actions will ensure that Bermuda remains an agile and responsive jurisdiction, providing the necessary infrastructure, talent, and regulatory clarity to further its position as a premier global fintech jurisdiction.”
Hayward said that his ministry is committed to the ongoing implementation of the strategy and will track its progress against specific actions under each pillar, reporting regularly to ensure transparency and accountability.
“It goes without saying that this government will continue to collaborate with stakeholders and provide the public with regular updates on its progress,” he said, noting that the government is confident that the strategy will pave the way for a “more prosperous, sustainable, and inclusive future for all Bermudians”.
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